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Parent company financial statements (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Balance Sheet |
|  | As of December 31,
Balance sheet |  | 2020 |  | 2019
Assets |  |  |  |
Cash and cash equivalents(1) |  | $ | 5,310 |  |  | $ | 4,673 |
Investments: |  |  |  |
Equity securities, at fair value |  | 1,173 |  |  | — |
Investment in subsidiaries(1) |  | 1,378,347 |  |  | 782,565 |
Other assets |  | 12,240 |  |  | 6,292 |
Goodwill |  | 29 |  |  | 29 |
Total assets |  | $ | 1,397,099 |  |  | $ | 793,559 |
Liabilities and shareholders' equity |  |  |  |
Liabilities |  |  |  |
Borrowings |  | $ | 106,299 |  |  | $ | 30,930 |
Accrued expenses and other liabilities |  | (489) |  |  | 300 |
Total liabilities |  | 105,810 |  |  | 31,230 |
Shareholders' equity |  |  |  |
Common stock |  | 47,222 |  |  | 31,034 |
Additional paid-in capital |  | 898,847 |  |  | 425,633 |
Retained earnings |  | 317,625 |  |  | 293,524 |
Accumulated other comprehensive income |  | 27,595 |  |  | 12,138 |
Total shareholders' equity |  | 1,291,289 |  |  | 762,329 |
Total liabilities and shareholders' equity |  | $ | 1,397,099 |  |  | $ | 793,559 |
(1) Eliminates in Consolidation
Income Statements |
|  | For the years ended December 31,
Income Statements |  | 2020 |  | 2019 |  | 2018
Income |  |  |  |  |  |
Dividend income from subsidiaries(1) |  | $ | 49,706 |  |  | $ | — |  |  | $ | — |
Gain on investments |  | 217 |  |  | — |  |  | — |
(Loss) gain on other assets |  | — |  |  | (16) |  |  | 297 |
Other income |  | 1,732 |  |  | 211 |  |  | — |
Total income |  | 51,655 |  |  | 195 |  |  | 297 |
Expenses |  |  |  |  |  |
Interest expense |  | 3,122 |  |  | 1,638 |  |  | 1,651 |
Salaries, legal and professional fees |  | 1,458 |  |  | 1,056 |  |  | 1,481 |
Other noninterest expense |  | 283 |  |  | 120 |  |  | 960 |
Total expenses |  | 4,863 |  |  | 2,814 |  |  | 4,092 |
Income (loss) before income tax benefit and equity in undistributed earnings of subsidiaries |  | 46,792 |  |  | (2,619) |  |  | (3,795) |
Federal and state income tax benefit |  | (1,155) |  |  | (683) |  |  | (746) |
Income (loss) before equity in undistributed earnings of subsidiaries |  | 47,947 |  |  | (1,936) |  |  | (3,049) |
Equity in undistributed earnings from subsidiaries(1) |  | 15,674 |  |  | 85,750 |  |  | 83,285 |
Net income |  | $ | 63,621 |  |  | $ | 83,814 |  |  | $ | 80,236 |
(1) Eliminates in Consolidation
Statement of Cash Flows |
|  | For the years ended December 31,
Statement of Cash Flows |  | 2020 |  | 2019 |  | 2018
Operating Activities |  |  |  |  |  |
Net income |  | $ | 63,621 |  |  | $ | 83,814 |  |  | $ | 80,236 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Equity in undistributed income of subsidiaries |  | (15,674) |  |  | (85,750) |  |  | (83,285) |
Gain on investments |  | (217) |  |  | — |  |  | — |
Loss (gain) on other assets |  | — |  |  | 16 |  |  | (297) |
Stock-based compensation expense |  | 10,214 |  |  | 7,089 |  |  | 7,207 |
(Increase) decrease in other assets |  | (9,717) |  |  | 1,056 |  |  | (441) |
Decrease in other liabilities |  | (13,363) |  |  | (9,711) |  |  | (7,737) |
Net provided by (used in) operating activities |  | 34,864 |  |  | (3,486) |  |  | (4,317) |
Investing Activities |  |  |  |  |  |
Proceeds from sale of other assets |  | — |  |  | — |  |  | 869 |
Net cash paid in business combinations (See Note 2) |  | (35,505) |  |  | — |  |  | — |
Net cash (used in) provided by investing activities |  | (35,505) |  |  | — |  |  | 869 |
Financing Activities |  |  |  |  |  |
Accretion of interest rate premium on subordinated debt |  | (436) |  |  | — |  |  | — |
Payment of dividends |  | (14,264) |  |  | (10,045) |  |  | (6,137) |
Proceeds of other borrowings |  | 15,000 |  |  | — |  |  | — |
Net proceeds from sale of common stock |  | 978 |  |  | 804 |  |  | 1,196 |
Net cash used in financing activities |  | 1,278 |  |  | (9,241) |  |  | (4,941) |
Net decrease in cash and cash equivalents |  | 637 |  |  | (12,727) |  |  | (8,389) |
Cash and cash equivalents at beginning of year |  | 4,673 |  |  | 17,400 |  |  | 25,789 |
Cash and cash equivalents at end of year |  | $ | 5,310 |  |  | $ | 4,673 |  |  | $ | 17,400 |
Supplemental noncash disclosures: |  |  |  |  |  |
Dividends declared not paid on restricted stock units |  | $ | 238 |  |  | $ | 149 |  |  | $ | 226 |
Noncash dividend from Bank |  | 956 |  |  | — |  |  | 572 |

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